In a report released today, Suraj Kalia from Northland Securities maintained a Hold rating on Medtronic (MDT), with a price target of $100. The company’s shares closed last Monday at $106.91, close to its 52-week high of $109.70.
Kalia observed:
“We continue to wait for a definitive breakout in key categories in terms of growth. In fairness, Medtronic continues to improve operational efficiencies.”
According to TipRanks.com, Kalia is a 5-star analyst with an average return of 8.3% and a 56.7% success rate. Kalia covers the Healthcare sector, focusing on stocks such as Tactile Systems Technology, Varex Imaging Corporation, and Strata Skin Sciences Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Medtronic with a $111.64 average price target, representing a 3.4% upside. In a report issued on August 14, Morgan Stanley also maintained a Hold rating on the stock with a $105 price target.
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Medtronic’s market cap is currently $143.4B and has a P/E ratio of 31.26. The company has a Price to Book ratio of 2.86.
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